Bankers Quote by Peter Troob
““The closest most people have ever come to understanding what an investment banker does may have been on October 24, 1995, when they heard the outrageous special interest story of the day. The wire services released the story first. It was quickly picked up and parroted by almost every major media outlet in the country as a classic example of Wall Street excess. A fifty-eight-year-old frustrated managing director from Trust Company of the West, on an airplane trip from Buenos Aires to New York City, downed an excessive number of cocktails, got out of his seat in the first-class cabin of a United Airlines flight, dropped his pants, and took a crap on the service cart. There you have it. That’s what bankers do: consume, process, and disseminate.””
About This Quote
Source Article: Wall Street Journal, “The Most Outrageous Story of a Banker”, October 24 1995
A sensational anecdote illustrates how media sensationalism can distort public perception of a profession.
In simple terms: Media can exaggerate to create a false image of bankers.
Key Takeaway
Question sensational stories, seek factual sources.
Themes
media perception
public image
finance
excess
misinformation
Mood
skeptical
critical
inquisitive
Type
anecdotal
satirical
cautionary
When to use this quote
- financial analysis
- media literacy
- corporate reputation
- public relations
- critical thinking
Key Concepts
journalism
stereotype
hyperbole
Questions to Reflect On
- How does sensationalism affect trust in finance?
- What responsibilities do journalists have in reporting?
A Different Perspective
The story is anecdotal and not representative of the industry.
![“What I think is bugging this guy [Steven Lerner] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans and so forth) - has made Wall Street bankers and financial people excessively, unfairly, out-of-proportionally rich.” quote by Rush Limbaugh](https://sms4smile.com/quotes/img-quotes/f15/rush-limbaugh-28_bankers_what-i-think-is-bugging-this-guy-steven_28590.jpg)
